- By adding Ethereum (ETH) trading capabilities to its app, the massive Japanese e-commerce company Mercari has ventured farther into the cryptocurrency space.
- The company launched the service for Mercari members on May 21.
Ethereum Accepts Mercari, a Japanese E-Commerce Giant
It is the largest marketplace in Japan, claims Mercari. It runs a flea market website similarly to companies such as eBay.
Recently, the company has shifted its focus to cryptocurrency. It has introduced a cryptocurrency exchange and linked it with its marketplace application.
This conversation has already shown to be fruitful. According to a survey done last year, younger Japanese cryptocurrency users tended to use the exchanges run by Mercari or its rival, Rakuten, rather than the platforms of more established cryptocurrency players.
Additionally, in January, Mercari declared that it will start taking Bitcoin (BTC) on its website through its cryptocurrency subsidiary Melcoin, based in Tokyo.
Melcoin handles Bitcoin payments made on the network; “over 100,000” transactions have been processed to date.
Although suppliers will receive yen, customers will first be able to pay with Bitcoin. Additionally, prices will only be shown in yen.
In March, Mercari introduced Bitcoin trading capabilities on its app, adding Ethereum as the second coin.
The implementation of ETH will happen “in stages.” Additionally, Mercari customers will be able to purchase Ethereum with their own loyalty points from the company or credit or debit cards.
Approximately two million users have reportedly already signed up for the company’s Bitcoin trading services.
Japan has seen a dramatic increase in searches for Ethereum since the year’s beginning, according to statistics from Google Trends.
Interest in ETH has increased recently once more. This is probably because of rumors that spot Ethereum exchange-traded funds (ETFs) could soon get approval from the US Securities and Exchange Commission.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
